WED JUNE 19 2024-theGBJournal| The Nigerian equities market lost its momentum on Wednesday with the All-Share Index dropping 8bps to settle at 99,840.95 points.
Sell pressure in telco giant, MTNN (-2.67%), alongside FBNH (-2.65%) and UBA (-1.34%) drove the market’s weak performance, outweighing gains in GTCO (+1.90%), ACCESSCORP (+1.88%) and TRANSCORP (+3.20%).
As a result, the year-to-date (YTD) return slipped to 33.52%, while market capitalization lost N47.62 billion to close at N56.48 trillion.
Market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 233.02%.
A total of 1.38bn units of shares valued at N16.48 billion were exchanged in 9,899 deals. FIDELITYBK (+8.50%) led the volume and value chart with 1.05bn units traded in deals worth N11.32bn.
Market breadth closed positive at a 2.60-to-1 ratio with advancing issues outnumbering declining ones. UPL (+10.00%) topped thirty-eight others on the gainer’s log, while CAVERTON (-9.62%) led fourteen others on the laggard’s table.
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